October 2, 2007

INDUSTRY NEWS

UNITECR 2007 Dresden

By now you likely have heard a report on the UNITECR 2007 meeting held in the Baroque city of Dresden in September. I will not add much except to congratulate Robin Schmidt-Whitley and the organizing committee for a job well-done. About 850 registrants had the opportunity to choose among 138 technical papers and also to participate in a number of social events, including a cruise on the River Elbe through the beautiful Saxony countryside.

UNITECR 2009, 2011, 2013

It is never too early to begin your planning to attend future UNITECR conferences. ALAFAR will sponsor the next biennial conference in Salvador, Brazil, October 13-16, 2009. Then in 2011, the Technical Association of Refractories in Japan will host UNITECR in Kyoto, November 11-14, 2011. As for 2013, early discussions focus on holding the conference in Vancouver, British Columbia, Canada.

ALAFAR 2008

The 2008 Congress of the Asociacion de Latinoamerican Fabricantes de Refractarios (ALAFAR) will be held in Argentina. Time and location are to be determined, but the planning committee is currently focusing on the resort town of Mendoza in the Andean foothills.

Private Equity Firm Agrees to Purchase Magnesita

Sao Paulo-based private equity firm GP Investments has entered into a definitive agreement to acquire a controlling stake in Brazilian magnesite and refractory producer Magnesita for 1.24 billion reais (US$639 million). The transaction entails 70.7% of the voting shares and 38.6% of Magnesita’s total share capital. Upon completion of that transaction, GP will make a tender offer for the common stock owned by Magnesita minority stockholders. At press deadline, the deal had not as yet been finalized.

Imerys Acquisitions

Imerys recently announced its acquisition of a 99% stake in ACE, a monolithic refractory producer in India. Also, the company had earlier announced that it had raised its stake in Vatutinsky Kombinat Vognetryviv, a calcined clay operation in the Ukraine, from 26 to 86%.

Magneco/Metrel Personnel Actions

Magneco/Metrel has promoted Tom Wank to vice president of marketing, Al Dzermejko to vice president of engineering, and Curt Rothman has returned to the company as VP industrial sales.

A Comment on the Times

This editor recently approached an Italian mold manufacturer at the UNITECR 2007 meeting in Dresden about the possibility of expanding its business into the U.S. market and joining The Refractories Institute. The company representative replied that because of the strong euro and the weak dollar, his products could not compete in the U.S. In addition, as of this writing, the Canadian dollar is at parity with the U.S. buck for the first time in thirty years and the Dow has closed over 14000. We seem to be in uncharted territory here, folks.

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REGULATORY

U.S. Workplace Fatalities Decline

In 2006, the number of workplace fatalities declined slightly from 5,734 in reported in 2005 to 5,703. That is the lowest level since the Bureau of Labor Statistics began it current reporting program in 1992.

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LEGISLATIVE/LEGAL

Carbon Emissions Tax Proposal

In what may be a hint of what is to come, U.S. House Energy and Commerce Committee Chairman John Dingell (D-MI) has proposed a tax on carbon emissions. The plan includes a 50 cent per gallon tax on gasoline and jet fuel, the proceeds of which would go into the highway and aviation trust funds. A 50 cent per ton tax on coal, natural gas, and petroleum emissions would be used to expand the Earned Income Tax Credit to assist lower income families in dealing with high fuel bills. Dingell would also phase out the home mortgage deduction for homes larger than 3000 square feet.

Proposed Incentive for Employee Wellness Programs

Senator Tom Harkin (D-IA) has introduced the Healthy Workforce Act of 2007. The bill would offer incentives to employers who offer certain types of wellness programs to employees. A tax credit of up to $200 for the first 200 employees, and $100 per employee thereafter, would be offered.

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CONFERENCES AND SEMINARS

95th Annual National Safety Council
Congress & Expo
Chicago, Illinois
October 12-19, 2007

Industrial Technologies Program Stakeholder Forum
U.S. Department of Energy
Arlington, Virginia
October 16, 2007

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